Hong Leong Bank and Hong Leong Islamic Bank have agreed to continue waiving the transaction fees and charges for all merchants accepting payments via the DuitNow QR until further notice.
In a press statement, the banking group said the waiver of transaction fees and charges includes DuitNow QR transactions where payments are made through Current/Savings accounts, e-wallets, and credit cards. In addition, HLB does not impose any fees on the maintenance of the service, point-of-sales material, and API/Interface Integration.
It said by eliminating these fees, the Bank is confident that this will encourage more businesses to adopt digital payment solutions, ultimately fostering a more resilient and competitive business landscape.
“This move not only benefits our valued merchant partners and customers but also contributes to a broader societal shift towards a cashless economy. By empowering businesses with cost-effective payment solutions, we are not only helping them remain competitive but also contributing to the economic growth of Malaysia,” said Kevin Lam, Managing Director and Chief Executive Officer of HLB.
The group now joins most major banks to waive the fees which were to take effect from Ocotber 1.
